Twas The Night Before The Fed

Stocks run higher as traders await the Fed’s decision on interest rates. A solid move today by stocks led by the Nasdaq as traders rush into technology stocks. Small cap stocks did not fare as well today, but they have been on a massive tear since the US elections in November. Volume was higher on the Nasdaq exchange while the NYSE saw volume slump a bit. A solid move by the Nasdaq as the index has been slumping since the election. The Dow and S&P 500 continue to remain in nose bleed territory while the Russell 2000 has seen its overbought conditions lesson. All-in-all a good solid session as we await the fate of interest rates.

What will be a surprise tomorrow will be if the fed hikes rates more than 25bps or does not raise rates at all. We continue to see a lot of positives with this market. Sure, this may change in the future. However, we can only handle what is in front of us today.

More to come after tomorrow’s session. We still do have more intraday trades. Monday we saw AKAO blast higher and even pushing higher during today’s session. Our chat room is picking some decent winners intraday now. Only thing that is left is you showing up!

Enjoy tomorrow’s action. It should be volatile, but you never know.

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